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Oil posts biggest weekly gains in over a year

OilNOW -
(Reuters) - Oil prices rose 2% on Friday, posting their biggest weekly gains in over a year, as energy firms began shutting U.S. production in the Gulf of Mexico ahead of a major hurricane expected to hit early next...
News

Guyana could transform into new type of oil producer, attract big carbon capture investments – AMI analyst

OilNOW -
The Guyanese government recognizes the appeal of its newfound treasure off the country’s coast and has assured that future oil contracts will generate more profits for the government, writes Arthur Deakin, Co-Director at Americas Market Intelligence (AMI) Energy Practice,...
News

After encountering 45 dry holes over a period of 50 years, along came Liza

OilNOW -
Updated August 27, 2021 Before 2015, offshore Guyana was considered a “high-risk frontier basin” with 45 wells drilled over a span of 50 years resulting in no commercial discovery. Bordered by oil producing giants such as Venezuela and Brazil, the evidence...
News

Liza Crude perfect for making jet fuel, high demand products – O&G expert

OilNOW -
Updated August 27, 2021 The oil being produced at the Liza field offshore the South American country of Guyana is being described as ‘clean good quality oil’ by an expert in the field who said this, together with some other...
News

Canje Block: writing the next chapter of Guyana’s exploration success

OilNOW -
The Canje Block lies 180km offshore Guyana in deep to ultra-deep water. Canje’s environment of deposition is unique among offshore Guyana blocks in that it contains both continental slope and basin floor terrain. The majority of the discoveries offshore...
News

Noble selling 4 jack-up rigs in Saudi Arabia

OilNOW -
Noble Corporation announced Thursday that subsidiaries of the Company have reached a definitive agreement to sell four jackups to ADES International Holding Ltd., through its subsidiary, (ADES) for $292 million.  ADES Group is a leading oil & gas drilling...
News

Exxon gearing up to spud third well at Canje block

OilNOW -
ExxonMobil is preparing to conduct exploration drilling activities later this month at the Sapote-1 prospect on the Canje block offshore Guyana. The well site is situated approximately 126 nautical miles (233.4 kilometres) from the coast and covers an area...
Opinions

Guyana’s role in the emerging green energy transition

OilNOW -
By Arthur Deakin – OilNOW In a recent offshore oil & gas conference in Houston, Guyana's foreign minister said that the country’s economy is expected to grow 500% by 2030. Guyana’s current US$6.8 billion real GDP would ignite to nearly...
News

Hess, Chevron mandating vaccination for U.S. employees, other companies monitoring situation

OilNOW -
(FOX Business) The U.S. energy industry is weighing in on COVID-19 vaccine mandates for employees as infections are on the rise following the spread of the delta variant. Hess Corporation says its U.S. operations employees working in the Gulf of...
News

Regulators, oil companies must look at cutting edge technology to lower emissions – Guyana VP

OilNOW -
Maximum fiscal discipline and transparency will be required to ensure Guyana’s vast oil and gas resources are managed judiciously, the country’s Vice President, Dr. Bharrat Jagdeo has said. Authorities in the South American country are firm in their plan...
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Latest News

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Guyana’s political outlook steady enough to keep investors calm – Norway group

Stability, that’s the word investors want to hear, and in Guyana, they’re likely to get it. Schreiner Parker, Partner and...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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